Notes

Hong Kong Garments Market
Textile quotas had been eliminated amid WTO customers at the very first day of 2005 in accordance with the Settlement on Textiles and Clothing (ATC). Nevertheless, resistance to quota removal unfold in the US and EU. Subsequently, China arrived at agreements with the EU and the US in June and November 2005 respectively. The China-US agreement, efficient from January 2006, governs the exports of a complete of 21 teams involving 34 groups of Chinese textiles and garments items to the US during 2006-2008. The China-EU arrangement, powerful from June 2005, addresses 10 groups of Chinese textiles and clothes exports to the EU throughout 2005-2007.

On the other hand, the mainland and Hong Kong agreed in October 2005 to more liberalise the mainland industry for Hong Kong firms underneath the 3rd stage of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA III). Together with other goods of Hong Kong origin, the mainland agreed to give all items of Hong Kong origin, like clothes objects, tariff-cost-free remedy starting up from 1 January 2006. According to the stipulated procedures, merchandise which have no existing CEPA policies of origin, will enjoy tariff-totally free remedy upon applications by neighborhood producers and upon the CEPA rule of origins getting agreed and met.

Hong Kong garments organizations are trustworthy for ODM and OEM creation. They are able to deliver high quality clothes articles in short guide time, as international importers and stores ask for apparel suppliers to tighten up provide chain administration to make certain the requested merchandise reaching the store floor at the proper time. Progressively, Hong Kong garments organizations, the established kinds in distinct, have revealed enthusiasm for manufacturer marketing.

Hong Kong's overall exports of garments rose yr-on-calendar year by 9% in the first 11 months of 2005. Although Hong Kong's re-exports of apparel rose by twenty%, domestic exports fell by 14%. In the very first 11 months of 2005, Hong Kong's garments exports to the US and EU rose by 11% and 18% respectively. While Hong Kong's clothes exports to Japan levelled off, those to the Chinese mainland declined by eleven%.

Sector Characteristics

The garments sector is a main manufacturing sector of Hong Kong. Its gross output is one of the maximum among all manufacturing sectors, amounting to HK$35.nine billion in 2003. It is the premier producing employer in Hong Kong, with one,673 establishments employing 28,752 employees as of June 2005. It is also the top earner in terms of domestic exports, getting up forty% of the overall in the initial eleven months of 2005.

Hong Kong's geographic boundary has by no means constrained the advancement of the ahead-seeking clothing sector. The greater part of apparel manufacturers have set up offshore production facilities in an attempt to reduce operation charges. Relocation of generation facilities offshore has however resulted in a continual decline in the amount of garments manufacturers in Hong Kong.

Hong Kong is not only a major manufacturing centre but also a hub for clothes sourcing globally. Organizations performing garment trade in Hong Kong are skilled in fabrics procurement, product sales and marketing, top quality handle, logistic arrangements, clothes types and international and national guidelines and rules. The professionalism that they command and the blended services supplied are not easily matched in other places. With a whole of 15,one hundred ninety establishments selecting ninety five,889 employees, they sort the biggest team associated in import-export trade in Hong Kong.

Functionality of Hong Kong's Exports of Clothing

Hong Kong's whole exports of garments rose 12 months-on-calendar year by 9% in the initial eleven months of 2005. Even though Hong Kong's re-exports of apparel rose by twenty%, domestic exports fell by 14%. The contrasting efficiency of Hong Kong's re-exports and domestic exports was fundamentally ascribed to the growing relocation of garment manufacturing to the Chinese mainland, ensuing from the removal of quotas below WTO's Settlement on Textiles and Garments (ATC). But the declining development of domestic exports has been reversed considerably in modern months, because of to the re-imposition of quantitative restraints on mainland-made textiles and clothes by the US and EU.

Retail revenue in the US held organization in the very first 11 months of 2005, growing by virtually six% from the very same time period in the preceding calendar year. In the initial 11 months of 2005, Hong Kong's clothes exports to the US rose year-on-yr by 11%.

http://www.servicesmad.com/shopping/cheap-harem-pants-for-men-are-always-easy-to-find-and-buy.html In the 1st 11 months of 2005, Hong Kong's total clothes exports to the EU surged calendar year-on-12 months by 18%. Clothes exports to major EU markets like France, Germany and Italy recorded progress costs in excessive of twenty%.

On the other hand, Hong Kong's clothes exports to Japan levelled off in the initial 11 months of 2005 partly because of to the pattern of immediate shipment. On the again of the rising income nonetheless, Japanese shoppers are inclined to resume their investing spree on premium garments objects. Meanwhile, Hong Kong's apparel exports to the Chinese mainland dropped by eleven% in the 1st eleven months of 2005, in contrast with the exact same period very last yr.
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